Whether people will go to Russia to watch the FIFA this time and will Russia get economic benefit from FIFA 2018 world cup?Add Answer
It is an honor and proud moment for the host country of any big international event like summer Olympics, Cricket world cup or FIFA world cup. So footballs are craziest of all sports fans and they will go to Russia to watch the match live.
During the time of events like FIFA world cup, the country's infrastructure will improve as the hosting nation construct roads, hotels, play grounds and other transporting facilities. Tourism industry will get a boost because of the inflow of spectators around the world will be in Russia for nearly 2 months. And the profit from sale of the ticket, income from advertisers, team paraphernalia, etc will be a energizer to its economy.
In 1994 when FIFA was organized by US, the matches were played in many cities and total profit of that event was 623 million $ and it went directly into the pocket of metropolitan's in United States of America. 2006 German world cup is also a huge success compared to US. Even though it was not a huge success for Japan and South African world cup, it was not a loss too to those hosting countries. But in 2012, Brazil world cup was a disaster to Brazil. After so many unnecessary constructions, countless protests, Brazil was found to be in a worse state than before. Because of the FIFA, there were damages to their environment and the event did not produce the expected profit.
While talking about this 2018 Moscow FIFA world cup, Moscow has aimed to showcase Russia as a global superpower and revive stagnating sectors of the economy with an influx of foreign investors. But economists predict that this month long event in Moscow will not produce any profit in short term, but the money spent on infrastructure may benefit them in long run.
Some 570,000 foreign fans and 700,000 Russians are expected to attend World Cup matches. Russia is constructing more stadiums with modern cutting edge technology, creating more jobs for Russians, spending money on infrastructure to woo the investors and to showcase its super power. Alexei Zabotkin, head of investment strategy at VTB Capital said that Russia would have no economic growth without world cup constructions.
So FIFA world cup 2018 will be a long term benefit for Russia then immediate economic growth.